salaryRent here is among the highest 10% in the country. Household incomes are higher than in 91% of U.S. cities. A typical house costs about 5.6 years of household income. Most homes (87.5%) are owned, so rentals can be hard to find. It is a highly educated city: 64.1% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $111,840 a year. That is $54 an hour at a full-time job.
Is rent cheaper than other Florida cities?
No. Rent here is more expensive than in most of Florida. It is number 438 of 479 cities from cheapest to most expensive.
How much do households earn in Miami Shores?
Share of households by yearly income. 54.6% of households earn $100,000 or more.
Rent by apartment size in Miami Shores
| Size | Miami Shores | U.S. average |
|---|---|---|
| 2 bedrooms | $2,192 | $1,509 |
| 3 bedrooms | $3,500+ | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Miami Shores overall?
Everyday prices in Florida overall are 3% above the U.S. average (index 103.4, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Miami Shores, so the Florida figure is shown.
Taxes and bills in Miami Shores
Life in Miami Shores
Is it cheaper to rent or buy in Miami Shores?
Renting is cheaper right now: about $3,202 a month less.
Owning assumes a typical $864,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $86,440 for the down payment.
Frequently asked questions
What is the average rent in Miami Shores, FL?
Renting in Miami Shores costs a median of about $2,796 a month in 2026, including utilities. The Florida median is $1,963.
How much do I need to make to live in Miami Shores?
To keep rent under 30% of income, you need about $111,840 a year, or $54 an hour at a full-time job.
Is Miami Shores cheap or expensive?
Miami Shores is rated OK: rent takes 21.6% of the typical household income of $155,358. It ranks 438th cheapest of 479 Florida cities we track.
How much are property taxes in Miami Shores?
The median homeowner in Miami Shores pays $8,427 a year in property taxes, about 0.97% of the median home value.
Is Miami Shores more expensive than the national average?
Overall prices in Florida are 3% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Miami Shores?
The median home value in Miami Shores is $864,400, about 5.6 times the typical yearly household income.
11,752 people live in Miami Shores. Numbers are typical (middle) values.